The growing demand for better crop yield is a significant factor influencing the growth of the market.
Europe glyphosate Market Size – USD 8.32 Billion in 2019, Growth - CAGR of 6.0%, Trends –Growing global population.
The global Europe glyphosate market is forecasted to reach USD 13.31 Billion by 2027, according to a new report by Reports and Data. The increasing need for better crop yield and the reduction of arable land has prompted an increase in the demand for herbicides, which is the primary driving factor of the Europe glyphosate market. Herbicides also decrease the need for manual and mechanical weeding. This is boosting its demand, particularly in developing economies. A rising focus on food security has facilitated the adoption of herbicides for the efficient cultivation of mixed crops and to enhance crop yield.
The U.S. is one of the major countries with natural farmlands and over 913 million acres of cultivable land. It is also the largest exporter of agricultural products in North America. The country generated around USD 133.00 billion in revenue in 2018. Adoption of modern agricultural techniques and increased awareness regarding soil patterns and climate uncertainties are the factors expected to drive the demand for herbicides over the forecast period.
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Top Companies: Nufarm Limited, Bayer AG, The Dow Chemical Company, Zhejiang Xinan Chemical Industrial Group Company Limited, United Phosphorous Limited, E.I. Du Pont De Nemours and Company, Nantong Jiangshan Agrochemical Chemical, Inc., Syngenta AG, ADAMA Agricultural Solutions Limited, and Monsanto Company, among others.
Further Key Finding from the Report Suggestion:
- Genetically modified crops held a significant market share in 2019. Genetically modified crops that are tolerant to herbicides such as Europe glyphosate allow farmers in easy weed control during the growing season and enable to have improved flexibility in deciding the spraying time.
- Europe glyphosate is garnering significant traction in the market due to the reduced cost and requirement of less effort in weed control.
- Europe glyphosate is the leading type of herbicide used in the US with regards to the area treated. It is a herbicide that is effective against a wide range of weeds comprising sedge, broadleaf, and grass weeds leading to the least residual toxicity to crops.
- The market in the Asia Pacific region contributed to the largest Europe glyphosate market share in 2019. The market dominance of the APAC region may be attributed to the presence of key producers in the region. Moreover, high demand for food, owing to the presence of a growing population in developing economies, such as India and China, and the easy availability of raw materials.
Consumers are placing a higher importance on sustainability and, as a result, are choosing items based on factors like circularity and carbon footprint. Furthermore, consumer concern about carbon emissions has prompted increased investment in renewable energy, energy efficiency, and transportation decarbonization. These developments have had considerable impact on chemical end sectors, particularly in the automobile and construction industries. COVID-19 has exacerbated the situation by lowering the automobile and construction industries (as well as many others) and disrupting current supply lines.
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The global Europe glyphosate market is segmented into:
Crop Type Outlook (Revenue, USD Billion; 2017-2027)
- Genetically Modified
Distribution Channel Outlook (Revenue, USD Billion; 2017-2027)
Application Outlook (Revenue, USD Billion; 2017-2027)
- Oilseeds Pulses
- Grains Cereals
- Fruits Vegetables
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market?
- What kind of strategic business plans have they made?
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